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Luxembourg, 3 December 2013
EUR 150 million in new EIB support for climate action in Turkey
The European Investment Bank (EIB) is renewing its support for climate action in Turkey with a EUR 150 million loan for forest rehabilitation, afforestation and erosion control activities to take place in the period 2014-2015.
This is a follow-up to previous EIB support of this kind in Turkey: a EUR 100 million operation signed in December 2012 for a project that is being implemented satisfactorily by the Ministry of Forestry and Water Works. The new operation builds on the previous one by giving greater emphasis to the improved quality of forest management. Turkey is one of the most erosion-prone countries in the world, due to its topography, climate, vulnerability of soil type and the tendency towards overexploitation of rangelands and forests. By supporting afforestation and erosion control activities, the present operation contributes to climate change mitigation and adaptation, as well as natural resource management in Turkey, underpinning economic growth and stability. It is expected to deliver multiple environmental benefits including improvements to forest health, protection of soil and water resources, and increased supply of timber and biomass for energy.
The new EIB finance is expected to include erosion control activities on 155,600 ha, the rehabilitation of 110,000 ha of degraded forest land, and new afforestation on 80,000 ha. It will also include investments in equipment and facilities to carry out these works and to facilitate improvements to the quality of forest management. The activities will take place around the country, focusing in particular on the most erosion-prone regions of the Anatolia Peninsula.
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
Helen Kavvadia, firstname.lastname@example.org, tel.: +352 4379 84486